save billions by tightening control over government finances

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public finance management

Public finance management is the fiscal backbone of any government, but keeping finances in order can be challenging when oversight is divided among dozens of ministries and agencies. Officials need a top-down view of how much money they have, where it is kept and how it is being used.

For Nigeria, Nortal built the Government Integrated Financial Management Information System (GIFMIS), a far-reaching IT tool that covers all aspects of budget preparation, as well as the execution and management of the government’s financial resources.

Implementing GIFMIS allowed Nigeria to find more than 7 billion missing euros, eliminate 20,000 government bank accounts, cut 60,000 “ghost workers” from the state payroll and save 1.3 million euros per month in bank transaction fees.

Based on the GIFMIS experience, Nortal is ready to help other governments achieve similar levels of transparency and fiscal control.

KEY BENEFITS

Top-down oversight of all public spending

Massive fiscal savings

Increased transparency

Better positioning with the World Bank, IMF

Healthier national economy

TARGETS

Heads of government

Finance ministries

Transparency advocates

references

Thanks to GIFMIS that Nortal built, Nigerian government managed to save more than 8 billion euros in a couple of years.